tl;dr
Stock index futures were largely higher on Friday, driven by stellar earnings and guidance from market heavyweights Meta Platforms (META) and Amazon (AMZN). Nasdaq 100 futures (NDX:IND) rose 1% and S&P 500 futures (SPX) gained 0.6%. But Dow futures (INDU) were only marginally higher ( 0.04%), as gai...
Stock index futures were largely higher on Friday, driven by stellar earnings and guidance from market heavyweights Meta Platforms (META) and Amazon (AMZN). Nasdaq 100 futures (NDX:IND) rose 1% and S&P 500 futures (SPX) gained 0.6%. But Dow futures (INDU) were only marginally higher ( 0.04%), as gains were capped by Apple's (AAPL) disappointing results in China. The biggest surprise this week has been Meta, according to Peter Garnry, head of equity strategy at Saxo, who noted its new dividend as another sign of large tech companies' financial strength. Rates ticked higher, with the 10-year Treasury yield (US10Y) up 2 basis points at 3.88% and the 2-year yield (US2Y) up 4 bps at 4.23%. January's non-farm payrolls report, released before the bell, marked an eventful week for the Federal Reserve. The Fed is hoping for the number of job additions to continue to subside, with economists expecting the consensus at 170K and an increase in the unemployment rate to 3.8% from 3.7% in December. After the bell, the consumer sentiment index from the University of Michigan and factory orders were released, while January auto sales reports started pouring in, with S&P projecting a sequential deceleration due to expected hangover from the solid closeout to sales in December, combined with some inclement weather effects.
More about Meta Platforms Inc.
Meta Platforms Inc. is a technology company that develops products for connecting and sharing through various devices. The stock has a market capitalization of $1.002605249 billion with a current price of $392.71. The stock has shown a 1-year change of 34.37% and a 5-year change of 48.97%. The Relative Strength Index (RSI) is 1.679, indicating a bullish trend. However, the stock is currently trading near its resistance level, and there is a potential risk of a pullback. The company's focus on virtual reality and wearables could be a growth opportunity, but market sentiment may be cautious due to potential regulatory challenges and privacy concerns.
More about Amazon.com Inc
Amazon.com Inc is a leading American multinational technology company in the e-commerce, cloud computing, digital streaming, and artificial intelligence sectors. With a market capitalization of 1.646 trillion, the stock is currently trading at $3.67, with a P/E ratio of 54.92. The stock has shown a 2.9% increase in the last month, with a current RSI of 53.95, indicating a neutral sentiment. Despite the company's strong position in the market, there are potential risks associated with the stock's performance, and past behavior may not be indicative of future trends.
More about Apple Inc
Apple Inc. is a leading American multinational technology company with a focus on consumer electronics, computer software, and online services. In 2020, the company reported a record revenue of $274.5 billion, solidifying its position as the world's largest technology company. Additionally, since January 2021, Apple has become the most valuable company globally. The company is also recognized as the
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